In 2023, the United States made significant strides in stablecoin regulation. On March 13, local time, the U.S. Senate Banking Committee approved the "Guidance and Establishment of the U.S. Stablecoin National Innovation Act" (the "GENIUS Act") with a vote of 18 to 6, marking an important step towards making the bill law. This bill will regulate U.S. stablecoin issuers at the federal level. The bill focuses on payment stablecoins, aiming to establish a clear regulatory framework to ensure transparency, accountability, and consumer rights, and to promote their regulated application in the digital economy.